PG Electroplast cuts FY26 guidance after profit falls 21%

PG Electroplast reported Q1 FY26 revenue of Rs.1,504 crores, up 14% year-on-year, but net profit fell 21% to Rs.66.7 crores from Rs.84.9 crores.

The AC business grew 15% to Rs.1,015 crores despite early monsoon shortening the season, while washing machines surged 36%. However, high inventory levels of Rs.1,300 crores increased financing costs by approximately Rs.20 crores.

The company revised FY26 standalone revenue guidance down to Rs.5,700-5,800 crores and net profit to Rs.300-310 crores. CAPEX projections were cut to Rs.700-750 crores.